Blue Owl Capital (OWL) is expanding into buying secondhand stakes in private asset funds from investors looking to cash out, as the secondaries market hit record levels last year, Bloomberg reported Friday, citing people with knowledge of the matter.
The demand comes as secondaries are seen as lower risk due to their diversification, and supports the company's growing focus on wealthy individuals, who make up roughly 40% of its investor base, the report said.
Blue Owl is expected to hire an executive for its strategy focused on investors, known as limited partners, the sources reportedly said.
Blue Owl didn't immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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